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Countdown to the Closing Bell

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U.s. 9, Spiriva 5, Us 4, New York 4, Cisco 4, Goldman 4, S&p 4, Tesla 4, Korea 3, America 3, Nicole Petallides 3, Copd 3, Charlie Gasparino 3, Adam Jonas 3, Volcker 3, Lloyd Blankfein 3, China 3, Washington 2, Charlie 2, Chrysler 2,
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  FOX Business    Countdown to the Closing Bell    News/Business. Stock  
   market updates. New.  

    December 3, 2013
    3:00 - 4:01pm EST  

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bucks for new models and pickup trucks, all different kinds of vehicles. analysts say pent-up demands along with low inte creating a perfect storm and also helping juice the sales there. chrysler, general motors, ford, all reporting better than expected november numbers, all improved on sales from a year ago, but they're not the only onings. a bunch. of other auto -- bunch of other auto companies looking good. gm losing about $1.16 at the moment. chrysler, of course, trades under its parent company, fiat, but it is looking to launch an initial public offering on the new york stock exchange next year, so watch out for that. we're covering that story very closely. and speaking of cars, tesla getting some welcome news yesterday after german investigators who were looking into the highly-publicized fires, all three of them -- not a lot there, folks -- model s sedans that managed to catch fire for different reasons, but nonetheless, nobody was hurt. the germans found no be
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manufacturer-related defects. so those inspectors give it a thumbs up. and well respected morgan stanley analyst adam jonas saying tesla is the bank's top auto pick. shares jumping $19.52 right now. look at that jump at $143.62. just check out one-year cart. shares are up some 258%. imagine that kind of return on anything. we would also tell you that it was charles payne who back when this stock was trading at $50 a share told our viewers to buy it. i often describe the thing inside a tesla car it's like being inside an iphone. fittingly, apple got a boost today after a ubs analyst raised his rating to buy from constitutal citing -- neutral citing apple's reported deal with china mobile. he also expected institutional investors to take a much bigger interest in the tech giant next year, so you can decide if you want to get in at this price.
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apple shares at $562 and change, a 2% gain. speaking of getting a boost, retailer abercrombie & fitch rallying after an activist shareholder called for a makeover in the c suite. nicole petallides at the new york stock exchange, this sometimes casts fear in the hearts of ceos, doesn't it? >> reporter: it certainly does. this particular ceo has been in this role for 16 years for abercrombie, but they really have been underperforming this year. it's down nearly 25%. when you're seeing the major averages up this year, right in and actually clocking this some record gains. today we're seeing abercrombie up 5%, and this is because you do have at least one activist shareholder in gauge capital and saying, listen, it's time for a change. could be a change for the ceo, could even mean the sale of the company. in the meantime, abercrombie & fitch is open. they obviously want to bring value to the company, they committed to creating value to
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this company, and they replied to this letter seeking the change in ceo and the possible even sale of the company. so this is a story that has just begun today, and surely will unfold over the next few months. let's see what happens. but you do have the ceo now after 16 years probably a little nervous today. and gauge capital, by the way, owns about 400,000 shares of abercrombie. liz: sometimes people compare them to american eagle, jumping up 1.5% as well. very interesting to see these names, very sensitive to the tastes of fickle teenagers too. with stocks taking another dive today, how long will they stay down? is this the way of the future perhaps that people have been waiting for? let's get to the floor show, traders at the new york stock exchange, cme group and the nymex. teddy, you and i have been very sanguine about this, as long as the central banking system is completely friendly to low
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interest rates, we're going to continue to see a rally. how do you categorize a day like yesterday and today put together? >> listen, nothing goes straight up, liz, we know that. the market's been on a big roll. it feels, quite frankly, a lot worse than it is in terms of the psychology, but i think that's a reflection of the fact that a lot of people are -- whether they're right or not -- are convinced that the market has just gotten way ahead of itself and don't quite understand why the market's trading at these levels. so the minute you get a little weakness, you've got a lot of people running to the agents. liz: i want to jump in because dan and then, teddy, you can comment on this, looking for all the right moves, and they were saying, oh, european stocks sold off overnight on worries about fed tapering. no new news on that front, and yet we're looking at about a 2.77 yield on the ten-year treasury, and i don't know if there's a market move that's catching people's eye somewhere? >> you know, i don't think it's
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tapering to say right now. that might come in the future, but the fact is we've had an incredible rally. and for us to drop 200 points over the past couple days, it's not that big a deal. people are taking some profits. liz: right. >> i'm not going to get rid of any positions because this is coming off a little bit. there's no fundamental shake-up in this market. i still like it. and even if there's a fed taper, i'll look at that for an opportunity to jump back in. liz: and this one month picture of the s&p is like the rest of the stretched-out one year, up more than b 26% over the past year. just a fabulous move. teddy, i go back to you here, and let me throw you a -- i don't know, it's not a curveball. actually, i threw out the first pitch at the angels' game, and i actually hit the pitch, the mound. but what do you think about lumber? i was looking at all of the soft and hard commodities, lumber jumped out because it was down 2.25%, and that made me wonder how the housing market might be feeling something different at this point? here's lumber, there it is down
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about 2.25%. >> well, you know, it's interesting, i have to share with you that we own a bunch of the building stocks, the lumber companies. liz: sure. >> we like, actually, i like that sector. i know it's tied to housing -- liz: eagle? some of the names out there, i always think of eagle, but what else? >> we own ray near, wire how'ser, we like the underlying asset, quite frankly, because we want to be long some hard assets because we have a sneaking suspicion that the only way the fed's going to get out of this box that they're in is to start to inflate things and so you want to be long as is sents, and we happen to like -- assets, and we happen to like lumber as a long-term asset. all you need is rain and a little sun, and the trees keep growing. so we like that. in terms of the housing, there's no question that you're going to get a knee-jerk reaction to housing. housing market gets weak, you know, you're going to see lumber come in, but i think longer
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term, quite frankly, you want to be long those stocks. liz: okay. i agree with you on that. i think that at some point the housing market is going to, of course, recover. here we go with the home builders. if we were looking at housing materials, which is what we were talking about, you'd see names like eagle, etc., but ira epstein, let's go from lumbar we are to oil, can and as we're looking at that, a nice move in oil today, in fact, all the energy contracts were muscling up today. >> absolutely. teddy's talking about a correction in the stock market, we had our correction last week down to 92.50, and the market held unbelievably. so look at that. we bounce from 92.50, we're at 95 and change. so, obviously, that that's good. we're talking about supplies here. also we're going to have draws in supplies. the first time in 11 weeks we're looking for 700,000 in crude oil, so maybe that could be a trend. also if we get more than the 700,000, we could have another $2 rally tomorrow. and let's not forget in december a lot of the books are closed, it might be a really -- on light
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volume, we might get a really nice rally going on light volume. liz: okay. ira says watch out for the inventory numbers, anything bigger than a 700,000 barrel drawdown -- that'll totally change things. good to see all of you. thank you for joining us on the floor show. we appreciate it. >> awesome. liz: closing bell -- exactly, awesome. so glad you're with it right now because we have another 53 minutes to -- 52 minutes to talk about how this day is going to end. how should you, the investor, ride the uncertainty and, of course, the taper jitters that affected european markets overnight? we've got a fox business exclusive with a money manager, in fact, he's a fund manager whose value equity fund is far outpacing the s&p 500, it's up more than 33% year to date. what's in his crockery pot there that he's mixing around? he has some new stock names that you can't afford to miss. he's done so well, you should be
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listening to pat decker, $3 billion in assets under management. and should lloyd blankfein be a little concerned about his firm's performance in this quarter? charlie gasparino looking exclusively at some potential red flags for goldman investors. stay tuned, we're coming right back. ♪ ♪ hi honey, did you get e toaster cozy? yep. got all the cozies. [ gra ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex.
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♪ ♪ liz: three people over the holiday weekend said to me, i wanted tesla. can't afford it yet, but the power mover of the hour is tesla. the electric car maker is jumping about 15.25%, its rice right now, 140 change, what do you have here? you're off the $194 all-time high that we saw a couple of months ago. it's down 36% since then, but it's seeing the biggest surge in nearly four months after those german authorities cleared the model s car of any manufacturing defects following three recent fires over the span of six weeks. again, we always say general motors, ford, toyota, hyundai, they've had many recalls over the years, but this prompted a big name auto analyst to make a big call. adam jonas named tesla his top pick in the sector saying the
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stock has gone from 20% overvalued to 20% undervalued. adam jonas loving tesla right now. well, we're always looking for fund managers that aren't just matching the market, because then you're paying them fees, and you're not beating the market. we look for ones that are far outpacing the market, and this fund manager cannot be stopped. he's up 33% year to date. he's cracking up right now say ing, oh, stop, liz. the s&p 500 up 26%, he's also well outpacing it year-over-year. pat becker says the markets are in prime condition for you to catch in. it's all about -- cash in. he is becker capital management president and portfolio management. i've had more people say the market is now fairly valued or even getting a little expensive, you say there are certain pockets of undervalued names? >> it's a weird part of the cycle. normally at in this point with the rally you've had, consumer staples would be expensive -- or inexpensive, utilities would be
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inexpensive, but technology, for example, is 40% under its 15-year average for valuation. so an area where you thought should be expensive like apple at 12 times earnings, microsoft at 13 times earnings, those are some of the cheapest companies in the market right now. liz: so is that how you do your strategy? you look for the undervalued sectors and then go digging there? >> yeah. we look for high quality companies, and we define that by terrific balance sheets, and and then -- liz: let me let you not gloss over that. when you look at say, for example, foxbusiness.com or yahoo! finance, there are about 30 different metrics on there, everything from debt, everything from price to earnings ratio, how much of the note is shorted, what do you mean balance sheet, cash? >> we look for cash, we look for an unlevered balance sheet from a debt perspective and reoccurring revenue on that line as well. so a business that can stand the test of time, that can put up with the recession, that can get through 2008. liz: i look at things and say,
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okay, you have a very accommodative central bank, you have low inflation, you certainly have a stock market that now has jumped exponentially, ccmmodities are lower -- >> uh-huh. liz: x cocoa. i'm into commodities right now. and, of course, lumber's pulling back. does that mean a perfect storm for a bubble pop or were better investing in the portfolio totally? >> it feels a lot like 1995 where you came out of the savings and loan crisis, people were looking over their shoulder, the market had a nice rally, and then commodity prices came down. inflation came down. and you had a rally from 1995 to the end of, you know, beginning of 2000. so that's the type of market. i mean, a lot of people think that, you know, it's over. most of the talk is about a bubble. but you can -- our portfolio's trading about 13.5 times earnings right now which is fairly inexpensive historically. liz: let's look at your fund and, again, it's done
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beautifully year to date, up 33%, year-over-year up 34%. names like aetna, vodafone, for example, you've got varco, it's really quite a panoply of sectors here. >> yeah. we try to be iversified by sector as well as holding, so we own about 62 different holdingsing. and, again, trying to get that 30% discount to the market, that way when you do run into these speed bumps, hopefully you don't go down as far as the market has. liz: isn't it interesting that pat's two favorite names right now -- he loves microsoft, microsoft's done pretty decently, up 45% over the past year. >> yeah. liz: and yet steve balmer's being chased away. >> yeah, true. liz: i don't quite understand that just as the stock has done quite well. but, pat, you like plum creek timber. not doing much today, but this is a name that's up about 3%. price to earnings ratio 26, and again, as i mentioned, lumber falling about 2.25%, and the
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housing market not stalled but not necessarily vaulting. >> so this is a name off of its highs that came onto our radar screen this summer when interest rates started to go up a little bit, and all the -- liz: largest timber company in the u.s.. >> yeah. largest timber owner in the u.s. and timber company. so with that coming down with, you know,d stocks this summer gave an opportunity to buy a company that actually as the economy does better, today do better. housing usually picks up when the economy does better, so we thought it was kind of thrown out its valuation based on the timber. you've got beetle kill up in canada which has increased their opportunities to sell overseas, and we think over time raises the price of lumber. liz: okay, so it's down today, that might be a buy. you also like howard hughes corporation. this is, of course, a company that's very big into, for example, landownership. >> yeah. liz: huge in vegas, by the way,
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for people that don't know. it's had a beautiful runup. why buy now? >> it's a name, we think, underfollowed on wall street. underknown. when you say howard hughes, a lot of people think about satellites and tv. it's a real estate play though. they own pier 17 here in new york, that's slated for redevelopment. they also have las vegas property they mentioned and also hawaii. so it trades about two times book. the house, the housing companies trade at three times book. we think they can make up that difference. liz: pat, is there a minimum if people want to come into your fund in. >> the retail share class, bvefx has a $2500. the bveix which is institutional is 250,000. liz: okay. pick your poison, everybody. pete pat becker, president and portfolio d path becker, president and portfolio brg. do it again next year. okay? >> all right. liz: closing bell in about 41 minutes. powerhouses on wall street --
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goldman sachs at the top, right? -- may not be quite as shiny as investors would like to be this quarter. charlie gasparino has the exclusive details on what may be behind the less than exciting performance. and we are shedding some amazing new light on the rapidly growing solar energy business the ceo of a company who's making buying solar panels for your home as easy as booking a vacation online. that's right, he's looking to simply be the expedia of solar. stay tuned. ♪ ♪
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but i will say this: what people are genuinely worried about inside goldman sachs is they don't have a good enough quarter or the last thing they want is a replication of last quarter to make up what happened for last quarter, and then you have what's going on this goldman sachs right now is people questioning the business model. here's the thing, we beat up on jpmorgan all the time, but they're a huge bank, and they can make money trading just being a middleman, not even having to take positions, okay? goldman sachs doesn't have that, that luxury. they don't have enough customers. jpmorgan has customers all over the world because they do banking, securities, they're everything to everybody, right? goldman sachs is a smaller firm. they need to take risk, and when you take risk, your earnings -- liz: and the regulators are less -- >> oh, and by the way, they can't do proprietary trading, so you're taking risk on the market-making side. as we know, the volcker rule prevents proprietary trading. i just saw a headline come by --
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liz: yes. the sec has confirmed that the volcker rule originally scheduled december 18th event, but everyone else is voting on the 10th or the 11th, apparently, and they've pulled the 8th. not given an -- 18th. not begin an indication from the chairman's office. >> every bank cares about how this is going to look. the stories don't say how it's going to look because banks, this is designed to get rid of proprietary trading, banks taking risk with their own capital. if you read the interpretation that has been out there, you can't make markets. and if you can't make markets, then goldman sachs will cease to exist. that's why they're worried. and depending on how they can make those markets, goldman sachs is in a lot of trouble. now, here's the difference, jpmorgan doesn't have to take the risk that goldman sachs. liz: goldman has investment banking business, they've got a myriad of business, charlie. >> i know. and can that's a good point. but m m&a is not carrying the ld anymore. they make their money off this trading stuff, and they've been
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curtailed because of the volcker rule, and now they have to make it by taking risks when you're making trades for your clients, and that's where they make money. and it's harder and harder to do that, and this is what they're worried about inside goldman sachs. it's a business model issue. they have a crummy asset management division, they obviously don't have retail, they don't deal with the small investor except for very, very high net worth individuals, which they make money on that, but it's not a huge moneymaker. m&a used to be the huge driver, and this trading -- liz: listing fees? ipos? >> they can make bucks. i don't think it's big enough. listen, they wanted the twitter ipo, obviously, but a lot of that was slit -- liz: hope they sold at 50. laugh. >> yes, i i they have. guess who i had lunch with today? liz: who did you -- thank you for finishing before my show because i heard you stay on the 1:00 you were having lunch.
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>> i'd never miss your show. it wasn't lloyd blankfein, it wasn't buffett, it wasn't james goreman, it was someone better. miss germany, 2012. liz: he keeps doing this to me. >> i'm telling you, this was a better lunch. [laughter] liz: corner hot dog? that's your style. >> no. we had grilled chicken. liz: we love that. charlie, i want to quickly ask you about jamie dimon. >> yes, what happened? liz: well, you saw the argue about michael corbett and how he's kept a lower profile and that citigroup stock has certainly responded quite nicely -- >> think about the implication of that story. liz: right, right. >> you have to be -- you have to do nothing which citigroup does almost nothing. they have almost no presence, major presence in the markets as they use to. liz: they are a global consumer bank. >> right. liz: they are making money doing that. >> jpmorgan makes a hot more money. whenever the regulators call you've got to say yes, sir, and that's -- and by the way, you have to keep it a completely low
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profile. you can't say the obvious like dodd-frank is monumentally stupid as jamie dimon -- that's the modern bank ceo. your an automaton, you are a robot for washington. liz: can i just say thank you for shaving? [laughter] better this way. >> i could say something, i'm not going to. tweet us @liz claman. better this way, right? good to see you. closing bell ringing in 31 minutes. the sun came out for sew around stocks. -- solar stocks, really muscling up. up 110% year to date. we've got an exclusive interview with the entrepreneur who's saying you're not going to get solar panels in your house. we're going to help you one-stop shopping for the nation's average joes to get a solar home without the help of a ph.d. from mit. and the markets may close at 4 p.m., but i'm always on call. sign up for claman on call. what do you get?
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tracy: here comes the sun. it could save you a bundle. for all you need sears about solar we are going to get it through here but chris, investable. and exchange traded funds that cannot think it is fair this
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year. it is at 100% year to date. and all kinds of solar names, and she insula, power, solar city, first alert, all in sparkling point break leave this year. this is excellent news for investors who took the change in january but an average consumer looking to jump on a solar wagon here is the company for you. some called g lstella, the orbits of the solar industry, 1-stop shopping place for anything shiny and bright. joining us is the founder and ceo david levine live from our d.c. bureau. you are back by a publicly traded company called energy. you have partners galore but let's explain to viewers what you are doing because we should publicly traded solar stocks that are looking very good and here is an opportunity to see
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what people will choose if they go to your web site. how does it work? >> it is very simple. type in your address and we tell you how much money you can save, how much power you can generate an how much carbon pollution you can prevent by putting solar panels on your home. liz: what people start to do if they put in the address and we are showing you that, and all of a sudden what happens? there are all kinds of issues your site will sift through so the actual h't have to. >> exactly. we have done enormous work before you type in your address. we collected 3d models from fixed wing aircraft, done a simulation where we move the sun through the sky, computed every shadow, the slope, orientation, utility rate, local incentives,
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how much energy you consume, and we look at the prices of solar, the prices of solar leases. liz: i want to explain what is on the screen, and builtable area. the slope, the latitude of the sun, can't believe you can do that. is this global? >> we did america first. . we do have very granular data. state university of new york and noah gets high resolution, what is called a typical meteorological years. liz: you do a cost calculation. walk us through how that works. you have three different plans. >> consumer the confused by the
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marketing a round solar releases versus cash sales and there are f h a backed loans. we take the most popular plans and we calculate your individual savings based on all these factors we just mentioned so it becomes easy for someone to say i have $30,000 and can put down a system so i will pay cash and get this return or someone says i don't have money to put down so i can choose between a lease or a loan and they tell me what is better. liz: what is most popular? >> the leases where those are available are the most popular. that is only 15 states. if you get a lease, and the leasing company owns the equipment and maintain and monitor it. liz: who are your partners? >> quite a few, on the financing
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side we have solar city, energy energy, and residential finance, lowe's bank, those are just a few of them. there are hundreds, great local installers. >> the best possible option is people show up and you put money down or get credit financing. what do you find is the point where people don't press purchase when it comes to solar? polk process is overwhelming? >> that is a really good point and that is why we have solar guides and from the web site, all you have to do is start typing and communicate with your solar guide, pick up the phone on the iphone apps or call them. we are really finding people do
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need that personal touch even when the intermission is in front of them. liz: hound do you make money? >> it is really simple because we take away all the sales of marketing expenses for the install are, we simply reduce the prices for the consumer and then we take a transaction fee wherefrom the in stoller, the installer pays us after the whole deal is done. liz: how is your site traffic? >> pretty astronomical. we usually have at any one moment, 50 people on the site communicating with our solar guys. 100 people go through the process of day. that is really happy. liz: the web site is geostellar.com. we have an iphone apps.
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you go to the itunes store and tight in solar mojo and download that apps. liz: i want people to know you are a yield graduate with a degree in philosophy which is perfect for this. different philosophy about solar. i hope it does well for you. thank you so much. david levine is geostellar founder and ceo. it can save money if you take the cash option. yesterday amazon's plan to deliver packages by drones go all the attention. after amazon's ceo said pilotless aerial vehicles will be delivering online orders to your doorstep and he believes that will happen in five years now amazon which began life as an internet bookseller is facing a little ribbing and heat from rivals including a leading bookseller in britain called waterstones which can shoot out yesterday and said we plan to launch a holes, what it calls an
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ornithological water scone with ending service using live at holes. sounds like harry potter novels, all tongue in cheek. it says it takes ages to train holes to do anything and we only just thought of this idea this morning. see you in five years. closing bell ringing in 18 minutes, one of cisco's strongest global competitors, a controversial one at that making a dramatic decision on the future of its u.s. business after getting embroiled in a controversial alleged spying. we get to that in a minute. robert gray called it on the black friday sales. >> they are telling us the better items, and pajamas. >> he held up washcloths. it turns out the humble
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washcloth was the biggest seller at wal-mart, the largest retailer, 2.8 million calvinist led of sales for tabloids and television and a huge increase over lawsuits. one more reason use the investor need to keep it here on fox business for your window into what is happening out there. every day we're working to be an even better company -
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liz: look at the dollar and alex is trading against the major currencies particularly the yen. the yen is up high about what is interesting is sentiment has been decidedly bearish on the view that the bank of japan is going to press ahead when it
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comes to a very accommodative policy just like our central bank but there's is winning out 18%. a little bit of weakness. markets are trading lower for the third straight day. nicole petallides standing by at the stock exchange. sandra at the -- what is pushing the market in the direction they are going. equities down. >> triple digit losses for the dow jones industrials down 17 points right now, traders watching materials, that is a very weak sector. also consumer discretionary financials, all under pressure, third day of selling and everyone looking for the jobs report friday. you can feel the jeter, the vix to the upside, also what will the fed to? will they begin tapering and watching bond yields moving higher? i want a quick peek at the energy stocks because this is a different picture.
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you can see mixed bag and you do have some up arrows for names like exxon and also bolero which hit a new high today, the commodity itself is moving higher, $96 and change in the after hours so really after we had seen oil selling off, has done a turnaround but so much of it has to do with the fed, jobs report, the fed meeting in december, december 17th, they are watching for that as well. liz: we are getting inventory numbers and talking about the cme, looking for a drawdown of 700,000 barrels for the previous week and i am wondering if it is 700,000, oil is going to jump out. >> some shockers in the energy market. i believe everybody normally does pay attention to the energy report wednesday, tomorrow's report will be watched even closer than usual but that gave a pop to gasoline and oil prices
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but also word from trans canada that they will begin operating the southern leg of the keystone pipeline in january to the gulf coast, crude-oil futures up a couple of percentage points and commodities, corn prices, there was a report that this corn crop might not be as big as the government has been forecasting so that gave up top to the agricultural market but we have a bunch of losers at the cme as well, gold, silver topping the list, gold with the four month low and this goes back to it is about whether the fed will taper or not tabor and this market is pointing more to the fed, announce when it will taper at this december meeting and that is sending precious metal down, silver even worse than gold on a percentage basis, gold hovering around the unchanged mark in evening trading and lastly copper prices, a direct play on the economy and a direct trade
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that if the fed does use the word tabor at the december meeting you are looking at a stronger u.s. dollar and a weaker dollar scenario and that weighed on commodities including copper price collapse. liz: high-grade copper 320, silver and 19, people were talking silver at 45, so much for that. could be a buy in the future. sandra and nicole petallides, thank you. let's get to chinese telecom giant raising the white flag and retreating from the entire u.s. market. why are they doing this when it was just beginning to get a decent old? this was the controversial company. >> very controversial. there is breaking news, wall street journal reporting the obama administration raising concerns with south korea about their plans to let the chinese telecom giant develop south korea's wireless network u.s.
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officials according to the journal are fighting a risk that while the equipment could be used for spying on communications among the allies this obviously plays into the news we had from earlier today, under fire in recent years by some members of congress, have been increasingly concerned about who owns access to private information. in 2012 house intelligence chairman michael rogers, republican from michigan said we have to be certain chinese telecommunications companies working in the united states can be trusted with access to our critical infrastructure. fast forward to this month and what seems to be his second interview ever with the foreign press the ceo rendered that the chinese telecom giant plans to get out of the u.s. market. according to the chinese transcript that i looked at he told reporters if they get in the middle of u.s./china relations is not worth it. he then added therefore we have decided to exit the u.s. market
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and not stay in the middle. exit is a strong word but reached out to the vp in washington about how these comments mean, he said this doesn't mean they are ditching the united states but the thrust of the business is going to change your, quote, without a doubt we are going to focus on markets that are open to competition and open to investment sell some big developments for huawei but again, huawei clarifying that they will continue to do business here, they will do it as long as the u.s. government allows them to. liz: i'm looking at their biggest competitor, cisco up 2/3%, bringing us breaking news about the obama administration expressing concern about south korea allowing huawei to set up its wireless infrastructure. this is an important story because bill plummer has been on the show from huawei and he is a very cogent guy, really very
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clear in his belief this is a company that doesn't have any backboards to sneak or spy on any countries in which they are wiring but they have a huge africa business. >> that is right. in talking to build today he keeps saying they are in all these different major countries, their national infrastructure carriers so there is certainly a bit of negative tone to what is going on. teams huawei is exasperated and the fact that the ceo is talking to foreign media means something is changing already. diane: cisco is happy about this bill we are waiting on future developments, thank you for reading the chinese transcript. closing bell ringing in six minutes. right here on "countdown to the closing bell" tomorrow we are talking to one of the most influential high finance managers on the street.
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citigroup telling institutional investors and the united states how best to hedge against the head winds he sees in 2014. a fox business exclusive. he is my guest for the full hour and concert from the piano man will become a regular event in new york city. madison square garden pulling a vegas really announcing it has found billy joel as the first entertainment franchise which means billy joel will play as long as fans are willing to keep walking in and hearing him and the world's most famous arena. the first concert series kicks off january 27th. get your tickets. [ female announcer ] what if the next big thing, isn't a thing at all?
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it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away.
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we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow starts here.
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who found a magic seashell. it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, o day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell. get live squawks right in your trading platform with think or swim from td ameritrade. liz: third day of losses in a row for the dow but we're off earlier lows, david.
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david: we're double-digit down to just barely so. still not a good day but some very interesting stock pops from certain companies. we'll get right to that. liz: let's first get to nicole petallides on floor of the new york stock exchange. specifically airline stocks sliding into the red. let today leading the declines here. >> right. we've seen a lot of airlines to the downside. as delta said unit passenger revenue actually dropped over the thanksgiving weekend. that may have taken them down, plus higher oil. david: for me, what i am most interested in stocks that bucked the trend. apple did it in a big way. they mentioned a possibility of a deal with china. >> right. china mobile and free order for iphone 5s and recent acquisition and ubs buy call was a big $650 target. liz: let's talk about group upon posting gains announcing record holiday sales? >> a la amazon, everybody hit
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groupon for toys home goods and for thanksgiving shopping. [closing bell ringing] david: we'll talk about tesla again. good news about the fire, not because of any defects. the tooksoming up 14 or 15%. liz: here are the numbers. what you do see? thethe biggest percentage loss n the dow, just down over half a percent. russell is not looking great either, down five points to 1124. as you see from the nasdaq and s&p following the red trends. david: there are very interesting surprises. we'll talk about all of them. we want to get you caught up with the front page headlines before anything else. automakers. let's talk autos here. they're reporting a big jump in sales in november, the best monthly performance in six 1/2 years. researcher auto data said sales soared to an annual rate of 16.4 million vehicles last month. this is way ahead of expectations. despite the beat, ford and gm's stock are both down 3% today. liz: blackberr